EMLC vs. JCPI
EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) and JCPI (JPMorgan Inflation Managed Bond ETF) are both exchange-traded funds - EMLC is a Emerging Markets Bonds fund tracking the J.P. Morgan Government Bond Index Emerging Markets Global Core Index, while JCPI is a Inflation-Protected Bonds fund actively managed by JPMorgan. EMLC is passively managed, while JCPI is actively managed. Over the past 3 years, EMLC returned 6.04%/yr vs 5.20%/yr for JCPI. At a 0.41 correlation, their price movements are largely independent. EMLC charges 0.30%/yr vs 0.25%/yr for JCPI.
Performance
EMLC vs. JCPI - Performance Comparison
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Returns By Period
In the year-to-date period, EMLC achieves a -0.23% return, which is significantly lower than JCPI's 1.12% return.
EMLC
- 1D
- -0.16%
- 1M
- -1.80%
- YTD
- -0.23%
- 6M
- 1.29%
- 1Y
- 7.90%
- 3Y*
- 6.04%
- 5Y*
- 0.97%
- 10Y*
- 1.99%
JCPI
- 1D
- -0.10%
- 1M
- -0.88%
- YTD
- 1.12%
- 6M
- 1.07%
- 1Y
- 5.14%
- 3Y*
- 5.20%
- 5Y*
- —
- 10Y*
- —
EMLC vs. JCPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | -0.23% | 18.81% | -2.97% | 11.18% | -4.36% |
JCPI JPMorgan Inflation Managed Bond ETF | 1.12% | 7.10% | 4.70% | 5.04% | -5.53% |
Correlation
The correlation between EMLC and JCPI is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2022 | 0.41 |
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Return for Risk
EMLC vs. JCPI — Risk / Return Rank
EMLC
JCPI
EMLC vs. JCPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) and JPMorgan Inflation Managed Bond ETF (JCPI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| EMLC | JCPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.33 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 3.22 | -1.94 |
| Martin ratioReturn relative to average drawdown | 4.34 | 11.00 | -6.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMLC | JCPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 1.77 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.20 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.10 | 0.64 | -0.54 |
Drawdowns
EMLC vs. JCPI - Drawdown Comparison
The maximum EMLC drawdown since its inception was -32.43%, which is greater than JCPI's maximum drawdown of -7.85%. Use the drawdown chart below to compare losses from any high point for EMLC and JCPI.
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Drawdown Indicators
| EMLC | JCPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.43% | -7.85% | -24.58% |
Max Drawdown (1Y)Largest decline over 1 year | -6.19% | -1.60% | -4.59% |
Max Drawdown (3Y)Largest decline over 3 years | -9.15% | -2.81% | -6.34% |
Max Drawdown (5Y)Largest decline over 5 years | -25.26% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.47% | — | — |
Current DrawdownCurrent decline from peak | -5.38% | -0.96% | -4.42% |
Average DrawdownAverage peak-to-trough decline | -14.36% | -1.86% | -12.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 0.47% | +1.35% |
Volatility
EMLC vs. JCPI - Volatility Comparison
VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) has a higher volatility of 2.20% compared to JPMorgan Inflation Managed Bond ETF (JCPI) at 0.95%. This indicates that EMLC's price experiences larger fluctuations and is considered to be riskier than JCPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLC | JCPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.20% | 0.95% | +1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 6.08% | 2.08% | +4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.00% | 2.92% | +4.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.13% | 4.50% | +4.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.05% | 4.50% | +5.55% |
EMLC vs. JCPI - Expense Ratio Comparison
EMLC has a 0.30% expense ratio, which is higher than JCPI's 0.25% expense ratio.
Dividends
EMLC vs. JCPI - Dividend Comparison
EMLC's dividend yield for the trailing twelve months is around 6.26%, more than JCPI's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 6.26% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
JCPI JPMorgan Inflation Managed Bond ETF | 3.96% | 3.93% | 3.98% | 3.45% | 3.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMLC and JCPI have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMLC has higher volatility (2.20%) compared to JCPI (0.95%). In terms of maximum drawdown, EMLC dropped -32.43% vs JCPI's -7.85%.
On 3-year performance, EMLC leads with 6.04% vs 5.20% for JCPI. On fees, JCPI is cheaper at 0.25% per year. On volatility, JCPI has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EMLC has performed better with a 6.04% return vs 5.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JCPI is cheaper with a 0.25% expense ratio, compared with 0.30% for EMLC.
EMLC has the higher dividend yield at 6.26%, compared with 3.96% for JCPI.
EMLC is categorized as Emerging Markets Bonds, while JCPI is Inflation-Protected Bonds. They also come from different issuers: VanEck and JPMorgan. Their fees differ too: 0.30% for EMLC and 0.25% for JCPI.
JCPI currently has the higher Sharpe Ratio (1.77 vs 1.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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